The Hong Kong Observatory has warned of potential flooding in low-lying areas early next week, while incoming tropical cyclone Man-yi has been upgraded to a severe typhoon. Typhoon Usagi, which the Observatory earlier on Friday said was unlikely to pose a direct threat, had weakened to a severe tropical storm.

Usagi is expected to maintain a distance of more than 500km from the city and then turn towards Japan’s Ryukyu Islands

A typhoon is brewing over Hong Kong but for the first time in decades, it’s business as usual for the city’s $5.4 trillion stock market.

Sample some of the world’s best whiskies at Whisky Live this weekend, check out guest shifts at Kowloon hotels Eaton and the Mondrian, and don’t miss out on new menus at Kinsman and Quinary.

Intense rain and strong gusts will hit Hong Kong starting at around midnight on Saturday (Nov 9) as Severe Typhoon Yinxing nears, while another tropical cyclone is due to arrive next week.

The Hong Kong Observatory said it will issue a so-called Typhoon Signal 8, the third highest, at 11:10 p.m. local time Wednesday as tropical storm Toraji is edging closer to the Pearl River Estuary and local winds will strengthen.

Hong Kong stocks hovered around a seven-week low while investors await a flurry of earnings cards from bellwether companies as the city’s financial markets opened for business under typhoon conditions for the first time.